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Registered User
Joined: 10/15/2005
Posts: 13
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in my opinion INTC MAY have bottomed based upon the 2 day chart I use.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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INTC definitely has strong long term support in the 19.50 area so losses from here are pretty doubtful. I have a feeling this stock will stay in a 19-22 trading range for quite some time. Money can still be made, but I would wait until it has moved out of it's 2% downward channel. It's not quite there yet.
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Registered User
Joined: 12/19/2004
Posts: 415
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While I own INTC in two retirement accounts (I don't know why I haven't sold them, but that is another story), I believe that it may have bottomed, BUT that is not a guarantee. Look at a loner term chart thatn 2 days and you may see a far different look. I would be selling calls or buying puts on this breaking the lows of last week. It has support here, but the next support is down at 14-15.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I think if this has bottomed and starts to turn up. There should be a lot of evidence in the indicators.
I would wait until the stock tells me its time to buy.
Even if it has bottomed it may sit here for a while.
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Registered User
Joined: 10/7/2004
Posts: 286
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I'd like to see another couple of retracement days in the SMH. I'm not quite sure AMD is finished going down yet. A couple of flushout days would put these two in a great risk/reward situation.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Well I have to disagree here with the whole crowd. Sorry folks.
What is it exactly that is telling you a botton is in place?
Yes agree with HNC strong support at 19.5, that does not imply a bottom. There is no sign of bottom here as far as my eyes can read.
Let me tell you what I read:
1 - a steep increase in volume by 50 regresion in the last of course 50 days (most of the drop) - not climatic yet.
2 - a slight increase in volume (almost flat for the last 10 days)I supposse for about the time span you folks are calling a turn. Therefore unsupported.
3 - a negative divergence in ROC the size of the Grand Canyon.
notice that althought ROC has improve in the very last weeks it continues to be under the 0 line
4 - a negative divergence the of similar characteristics in TSV
notice that althought TSV has improve in the very last weeks it continues to be under the 0 line
5 - MS is as negative divergent as everything else.
So at this point there is nothing pointing here to a change of character. At the most an up fluctuation in the down path.
When the price, volume and indicators tell me otherwise I will process accordingly. Right now calling a bottom is just hoping.
good luck
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Registered User
Joined: 12/19/2004
Posts: 415
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You didn't disagree with my thoughts, all I said was it "may have bottomed" and I would be selling calls and/or buying puts with a break of the lows of last week.
By the way ROC divergence of what indicator? TSV, MS, or something else?
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Registered User
Joined: 3/7/2006
Posts: 244
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QUOTE (jynkin)
I'm not quite sure AMD is finished going down yet.
Actually AMD is at a great looking short entry point right now. I'm pretty sure it's not finished going down. I would have some caution in AMD only because they are stealing market share from INTC. But on the chart it looks awfully H&S like right now.
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Registered User
Joined: 3/7/2006
Posts: 244
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QUOTE (bestbob) in my opinion INTC MAY have bottomed based upon the 2 day chart I use.
I wouldn't at all say "may have bottomed". I would say "may be forming a bottom". There is a difference and I would not buy here. If for no other reason INTC has a long term history of earnings shortfalls.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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The only good thing you can say about this stock is it is at a low risk entry point. You only have about .50 of risk, but once it drops below 19.00 it will have a better chance of going to 16.00 than it will 22.
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Registered User
Joined: 12/19/2004
Posts: 415
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QUOTE (HaveNoCents) The only good thing you can say about this stock is it is at a low risk entry point. You only have about .50 of risk, but once it drops below 19.00 it will have a better chance of going to 16.00 than it will 22.
Or MUCH lower, look at a long term chart, support exists in the $13-15 area.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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QUOTE (bknight) You didn't disagree with my thoughts, all I said was it "may have bottomed" and I would be selling calls and/or buying puts with a break of the lows of last week.
By the way ROC divergence of what indicator? TSV, MS, or something else?
Rate of Change of price - ROC without futher specification is just that.
good luck
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